Robert W. Baird Issues Positive Forecast for Malibu Boats (NASDAQ:MBUU) Stock Price

Malibu Boats (NASDAQ:MBUU) had its price objective lifted by analysts at Robert W. Baird from $40.00 to $50.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 11.41% from the company’s previous close.

MBUU has been the topic of several other research reports. StockNews.com lowered Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, August 30th. B. Riley cut their target price on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Truist Financial restated a “hold” rating and set a $32.00 target price on shares of Malibu Boats in a research note on Monday, July 8th. Finally, DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $41.43.

Malibu Boats Stock Performance

Shares of Malibu Boats stock opened at $44.88 on Friday. Malibu Boats has a fifty-two week low of $30.20 and a fifty-two week high of $56.03. The firm has a market capitalization of $898.05 million, a price-to-earnings ratio of -16.32 and a beta of 1.38. The stock has a 50 day moving average of $38.99 and a 200 day moving average of $36.60.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, August 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The business had revenue of $158.70 million during the quarter, compared to analyst estimates of $157.54 million. During the same quarter last year, the firm posted $2.96 EPS. The company’s revenue for the quarter was down 57.4% on a year-over-year basis. Analysts forecast that Malibu Boats will post 1.98 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Malibu Boats by 74.1% in the first quarter. Principal Financial Group Inc. now owns 9,293 shares of the company’s stock valued at $402,000 after purchasing an additional 3,954 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Malibu Boats by 54.8% in the first quarter. BNP Paribas Financial Markets now owns 19,453 shares of the company’s stock worth $842,000 after acquiring an additional 6,888 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Malibu Boats during the first quarter worth approximately $142,000. Quantbot Technologies LP increased its holdings in shares of Malibu Boats by 121.9% during the 1st quarter. Quantbot Technologies LP now owns 6,568 shares of the company’s stock worth $284,000 after buying an additional 3,608 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in Malibu Boats by 21.3% during the first quarter. Empowered Funds LLC now owns 48,322 shares of the company’s stock worth $2,091,000 after acquiring an additional 8,480 shares during the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats Company Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.